I don’t disagree with anything you’ve said.
How two people perceive the actual differences between two DACs will definitely be impacted not only by their respective priorities in terms of sonic factors but also by their hearing. And of course, this is not even considering differences in ancillary gear and listening spaces!
As it happened, the particular group of DACs I auditioned in the past spanned a very wide spectrum, in terms of musical vs. analytical/warm vs. bright. If I’d chosen a different group of DACs, the differences might’ve been far less evident and I might well have determined that one DAC pretty much sounds like another.